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Draft Polar Code approved by IMO’s Marine Environment Protection Committee



A key step on the way to a mandatory Polar Code for ships operating in Arctic and Antarctic waters has been reached with the approval by the Marine Environment Protection Committee (MEPC) of the International Maritime Organization (IMO) of the environmental provisions in the draft International Code for Ships Operating in Polar Waters (the Polar Code), together with associated draft amendments to the International Convention for the Prevention of Pollution from Ships (MARPOL), to make the Code mandatory.








Plunging global oil prices may turn hopes for cheap liquefied natural gas supplies from the United States into a costly disappointment for Asian buyers who have already invested billions of dollars in long-term contracts. The 26 percent price slide since June to $85 a barrel exposes cracks in the assumption by utilities and industrial companies from Japan to India that cheap U.S. LNG would muscle into high-value Asian energy markets from 2016.


Top Stories

The IMO has published an infographic aimed at passengers/seafarers on what people need to know abut Ebola. The infographic shows what to do both onboard and at ports when travelling to Ebola infected countries.
Norwegian shipowners should be patient with Chinese shipbuilders who are on a learning curve to shift to the building of offshore vessels, a Chinese yard executive said.
In a client briefing RS Platou Markets upgraded Dorian LPG shares rom “hold” to “buy”. The investment bank sees Dorian launching an MLP next year as its newbuilding programme nears completion provided more time charters are secured.
The Board of Directors of Swiber Holdings Limited announced that on 20 October 2014, Swiber Capital Pte. Ltd. (the "Issuer"), a special purpose vehicle wholly owned by the Company, has priced S$50,000,000 in principal amount of 6.25% fixed rate trust certificates due 2017.
The cost of shipping iron ore jumped the most on record amid speculation that Chinese traders are increasing purchases of the raw material used in steel. Daily rates for Capesize vessels hauling about 160,000 metric tons of the commodity jumped 38 percent to $12,580 today, according to the Baltic Exchange...
The ECO vessels are already here but the oil and bunker prices are plum- meting to their cheapest level since 2010. Is this development coming as a verification to the shipowners that have been dismissive of the benefits of the new designs? Moreover, are we experiencing the two tier market that was discussed a few years ago?
China’s daily crude steel runs rose 1.3 percent in September to the highest level in three months, data from the country’s statistics agency showed, suggesting mills were still close to full capacity despite weak demand and a steep slump in prices.
OPEC could in the future take action to respond to the recent fall in oil prices, Algerian energy ministry official Ali Hached said in Paris Tuesday. “Collectively OPEC can respond to the excess supply that we have on the market,” he said.
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